Best of the Brokers for 02 December 2014

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TULLOW OIL
Westhouse Securities reiterated its “buy” rating. The broker said it believed the general oil sell-off following last week’s decision by Opec not to cut production “presents an excellent opportunity to buy in to the UK’s leading listed E&P company”. Target price is 770p.

BALFOUR BEATTY
Canaccord Genuity reiterated its “hold” rating, and noted that John Laing Infrastructures proposed £1bn bid for Balfour’s “PPP” portfolio undervalued the assets. The broker added that while the deal would mean immediate cash creation, it could “remove a future growth engine”.